World Bonds vs. Sovereign Local Currency Bonds from US, DM and EM — YTD and 1 Year

PSAIX (black) is PIMCO world bond fund based on their proprietary “GLADI” index, a GDP weighted index of investment grade bonds worldwide (see some details from the GLADI profile below).

World bonds = black
US Treasuries = gold
DM (developed markets) sovereigns = red
EM (emerging markets) sovereigns = blue


GLADI Regional Weights:

click images to enlarge

 

Difference Between Market-Cap Weighting and GDP Weighting:

 

 

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